- According to the IDC, the total number of wearable shipments in 2018 is projected to be 132.9 million, which is a 15.1-percent increase from last year’s figure.
- Not only that, that number is expected to grow, reaching 219.4 million in 2022.
- Smartwatches are expected to overtake fitness trackers to become the most popular wearable category in 2022.
According to the International Data Corporation, the overall wearable market will grow 13.4% by 2022, two fifths of which will be smartwatches.
The smartwatch industry may seem dead, but the latest data gathered by the IDC’s Worldwide Quarterly Wearable Device Tracker indicate otherwise. As you can see in the table below, the total number of wearable shipments in 2018 is projected to be 132.9 million, which is a 15.1-percent increase from last year’s figure. Not only that, that number is expected to grow, reaching 219.4 million in 2022.
According to the IDC’s data, in 2018, smartwatches, basic watches, and basic wristbands will continue to dominate the wearable market. More specifically, simple wristbands like fitness trackers will continue to hold their place, given the general skepticism and practical concerns surrounding full smartwatches. Not surprisingly, earwear and sensor-laden clothing are expected to account for less than 4 percent of the total market share.
IDC projects that by 2022, the wearable landscape will shift quite significantly.
Interestingly enough, however, the IDC projects that by 2022, the wearable landscape will shift quite significantly. Namely, smartwatches will grow to overtake basic wristbands in terms of market share. “Consumers are finally starting to understand and demand the utility of a smartwatch,” said Jitesh Ubrani, a senior research analyst for IDC Mobile Device Trackers. “At present, fitness uses lead by a mile but mobile payments and messaging are starting to catch on. The addition of cellular connectivity is also starting to resonate with early adopters and looking ahead the emergence of new use cases like music streaming or additional health sensors will make cellular connectivity pivotal to the success of the smartwatch.”
In addition to smartwatches, earwear and sensor-laden clothing are expected to see a modest increase – I’m thinking more advanced versions of products like the Pixel Buds and Google’s Jacquard-powered denim jacket.
What are your thoughts? Do you think smartwatches will continue to grow from 2018 through 2022? Let us know by leaving a comment below!